The POLY token is the utility token used to access the Polymath ecosystem. It can be used to pay for Services delivered by the dApp (Ticker Reservation, Security Token Configuration, use of the Security Token Offering smart contracts) or by the Service Providers you engage with through the platform.
As of today, the platform can be used according to the following fee structure:
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Operation |
Fee Structure / Detailed Costs |
Additional Information |
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Creation of a new Issuer account |
A wallet signature is required for this operation. Wallet signatures do not carry any cost. (POLY or gas). |
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Registration of a Ticker Symbol |
Registration of a ticker symbol has a fee of 1,000 POLY + Mining fee. |
Ticker symbol reservations are valid for 60 days. If the reservation expires, the ticker symbol is available for others to take. |
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Engagement of Service Provider(s) |
The terms of your engagement with the Service Provider(s) you apply to through the Polymath dApp will be agreed upon between yourself and the Service Provider(s). Polymath does not play any part in this negotiation. |
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Configure of a Security Token |
Configuring a Security Token has a fee of 4,000 POLY + Mining fee. |
Once the Security Token is configured, the ticker symbol is permanently yours on the Polymath protocol. |
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Use of additional Security Token Capabilities such as: Limiting the number of investors who can hold your security token Percentage ownership restrictions |
No POLY Cost. The security token capabilities listed do not carry a dedicated POLY expense. Mining fee required to enable, disable or change settings. |
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Minting of Tokens to existing Shareholders, Affiliates, and Reserve |
No POLY Cost. Minting of tokens using the CSV import functionality does not carry a POLY expense. Mining fee required to whitelist wallet addresses and mint the desired number of tokens to the whitelisted wallets. |
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Security Token Offering Selection and Configuration |
Use of the “Simplified STO” Security Token Offering Template carries a fee of 7,500 POLY + Mining fee Use of the “Pegged to Fiat STO” Security Token Offering Template carries a fee of 25,000 POLY + Mining fee |
The Security Token Offering Templates listed on the Polymath dApp have all been audited by an independent third party. |
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Updates to the Whitelist |
No POLY Cost Updates to the whitelist do not carry a POLY expense. Mining fee required to whitelist wallet addresses or update wallet address properties such as buy or sell lock-ups |
The whitelist can be updated before, during, and after your Security Token Offering. Each update will carry a mining fee as information needs to be written to the blockchain. |
Note - Mining fees (aka gas costs) are required to write information to the Ethereum blockchain
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